Novacoin (NVC), High Volatility and Rising Thursday: Is it Time to Cash Out?

Thursday, June 23, 2022 02:02 PM | InvestorsObserver Analysts

Novacoin (NVC) has been relatively more volatile compared to the crypto market. So far Thursday, the crypto has increased 60.51% to $0.01626659162.

InvestorsObserver is giving Novacoin a 79 Volatility Rank. Find out what this means to you and get the rest of the rankings on Novacoin!

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Highly Volatile

InvestorsObserver gives Novacoin a high volatility rank of 79, placing it in the top 21% of cryptos on the market.

The Volatility Gauge tracks this makes its score defined by recent trends, rather than a bad day. NVC's high volatility reading is coupled with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively wide price swings and is well protected from price manipulation.

Novacoin price is trading above resistance. With support set at $0.00792969056702737 and resistance near $0.0140472216654528. This positions Novacoin out of range and potentially in a volatile position if the rally burns out.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.